First Quantum to invest $3.5 billion to build Taca Taca copper project in Argentina — report
According to Rumbo Minero International, representatives of the Canadian mining company met with Argentine officials.
Australian gold producer Perseus Mining (ASX, TSX: PRU) is increasing its stake in Predictive Discovery (ASX: PDI), a BlackRock-backed company advancing the Bankan gold project in Guinea.
The Perth-based miner’s holding in Predictive Discovery has grown to 19.9%, following an initial acquisition of a 13.82% interest in August. Despite the move, Perseus noted it had “no current intention” of seeking control or launching a takeover bid for the gold exploration company.
The transaction comes just a few months after Africa-focused Perseus completed the takeover of a gold asset in Tanzania through its acquisition of OreCorp, with a focus on bringing the Nyanzaga project into production by early 2027.
Predictive is securing government permits for its flagship Bankan gold asset in Guinea, where it expects to begin production in 2028. The project has a mineral resource of 5.4 million ounces and a potential production of 270,000 ounce per year.
Predictive, which describes the Bankan gold discovery as the largest in the region in a decade, is working on a feasibility study for the asset, with the obtention of a mining permit targeted for next year.
Before Perseus acquired an interest, asset managers BlackRock Inc. and T. Rowe Price Group Inc. were Predictive’s biggest and third-biggest shareholders, respectively.
Perseus operates three gold mines in Ghana and Ivory Coast and has gold projects in development in Tanzania and Sudan.
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